How To Determine If Your Home For Sale In Edmonton Is Overpriced

This Monday morning, we would like to share with you the simple ways to determine if your Edmonton Home For Sale is correctly priced or not.

Overpricing is one of the main causes why there are homes for sale that gets stuck and listed on the Edmonton MLS for months on end.

Note: Remember, you can access all our available Homes For Sale in Edmonton through our Edmonton MLS Listings page.

C’mon, we too would like to have you cash in big time but if you think overpricing the property is the way, then you better prepare for a really long wait.

Okay, let’s start. To determine if your home is overpriced these are the things you should look out for.

YOU HOME PRICE > YOUR AVERAGE NEIGHBORHOOD HOME PRICES. We begin with the obvious. If your home is priced way higher than the comparable homes in your neighborhood then this should sound the ‘overprice alarm’. In the real estate business, comparable homes in a neighborhood tend to have small price differences, if your Edmonton home has a price difference of $100,000 than the others, then it is advisable that you take a hard look at this matter.

One way to determine the best value of your Edmonton home is to do a Comparative Market Analysis. It is one of the methods Team Leading Edge employ when screening home prices.

For free Edmonton Home Market Analysis report, visit the following sites:

LOW FOOT TRAFFIC ON YOUR OPEN EDMONTON HOUSE. The amount of inquiries and visitors to your property is the second good indicator that there is something wrong, and usually that something wrong is the PRICE.

NO OFFERS FROM BUYERS. If the home doesn’t receive any offer within the first 14 days of being listed on the Edmonton MLS, then it’s another slap in your face that your price is not correct. Price too low, you’ll have tons of offers, price too high, you’ll have nothing.

LAST BUT NOT LEAST, PRICEY EDMONTON REAL ESTATE AGENT. Yes, there are hundreds of real estate agents in the city, each single one has a different price in mind. The last poison pill in this game of real estate pricing is working with the wrong agent.

The best way to find the real estate agent suited for you to first know the average selling price of comparable homes in your Edmonton. If you own a 3 beds and 3 baths house, then get the average price of 3 comparable properties. Once you have that, interview at least 3 real estate agent candidates. Ask them how much they would list your Edmonton home, then follow up with a question why they believe that is the best price. If an agent comes up with an above the average home price, then you’ll know, he or she is not the one for you.

Figuring out the correct home price is not a complicated activity. You just have to know four things we discussed above and have to work with the right real estate agents.

Work with the real estate team that has the experience and competence to help you sell your Edmonton home fast. If you have read this far, it’s best you dial this number now 780-634-8151.

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